KSE Index/ Businesses suffer.
Owing to the rumors circulating of the internal military coup and house arrest of Musharraf, the Karachi Stock Exchange lost 635 points to close at 13,257 today. This trend also reflects the reluctance of foreign investors to inject funds into the Pakistani economy at the moment.
The market has shed almost a 1000 points since last week. The rumors have been confirmed as false, yet the uncertainty remains.
While activity in the financial sector can be gauged almost instantly, the effect of the emergency on other sectors of the economy will only be visible in the long run. Most of the business community is concerned about not only their foreign customers and suppliers but also the the local public’s propensity to save more and spend less in a crisis such as this.
Being forced into an information black hole, where access to news to the ordinary man has almost been cut off, will exacerbate this cautious behavior and cause further problems for businesses, both big and small.
broken a 17 year all time low record…
According to the BBC
The main stock index has risen more than 1,000% since the end of 2001 and last month reached its peak of 14,908.91.
The stock market slides 5% and this fall was the biggest one-day decline on the Karachi Stock Exchange 100-share index for 16 months.
کراچی بازارِ حصص میں ریکارڈ مندی
ایمرجنسی اور مختلف افواہوں کے باعث کراچی سٹاک ایکسچینج میں مندی کا سترہ سالہ ریکارڈ ٹوٹ گیا۔
http://www.bbc.co.uk/urdu/pakistan/
http://www.bbc.co.uk/urdu/pakistan/story/2007/11/071105_karachi_stocks_sen.shtml
Can the impact be equated to march crises….
The best time to BUY – shake off your spare change and star buying. This will not persist and go UP / recover within next 21 days
aadaab arz!
ya sattay pey satta koi farak nahein albatta…